KTZ secures $1.6 bln in 10-year financing to renew locomotive fleetNational Company Kazakhstan Temir Zholy JSC (KTZ), the national railway operator, has signed a mandate agreement to raise $1.6 billion in financing over ten years to modernize its locomotive fleet, the company’s press service said in a statement on Friday.“The agreement was signed between National Company Kazakhstan Temir Zholy JSC and Citibank, which acts as the financing coordinator. The transaction is supported by the U.S. Export-Import Bank (US EXIM), acting as guarantor,” the statement said.The signing took place during the official visit of the President of Kazakhstan to the United States.Deliveries of locomotives from the U.S.-based Wabtec Corporation are scheduled over the long term, extending through 2038.The locomotive will be produced at a plant in Astana that operates as a subsidiary of Wabtec Transportation Engines Holding B.V.Kazakhstan Temir Zholy (KTZ) is a transport, warehousing and distribution company, which is part of Kazakhstan’s National Wealth Fund Samruk-Kazyna. KTZ operates the country’s railways, the infrastructure of seaports and airports, transportation and warehousing facilities. (ICE ALMATY)

Fonte notizia: INTERFAX